The Royal London Mutual Insurance Society Limited (Royal London) has officially completed the sale of its Police Mutual Healthcare (PMHC) and Police Mutual General Insurance (PMGI) businesses to Bspoke Group.
The sale comes after Royal London received all the necessary approvals for the sale.
Bspoke Insurance Group Ltd (Bspoke Group) agreed to acquire the personal lines elements of the businesses at the end of November last year.
The Group, which is backed by private equity investors RCapital Partners LLP & MIG Partners LLP, has now acquired 100% of the share capital of the two businesses.
This is the second acquisition for the specialist insurance MGA group following their buy-out in October 2022, further building the momentum for their organic and inorganic growth strategy within the niche insurance sector.
